Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 5,410,000 shares, a decrease of 23.0% from the March 15th total of 7,030,000 shares. Based on an average daily volume of 785,800 shares, the short-interest ratio is currently 6.9 days. Currently, 11.8% of the company's shares are short sold.
Monte Rosa Therapeutics Price Performance
GLUE stock traded down $0.11 during midday trading on Thursday, reaching $5.22. 448,364 shares of the company's stock traded hands, compared to its average volume of 1,047,127. Monte Rosa Therapeutics has a fifty-two week low of $3.21 and a fifty-two week high of $12.40. The company has a market capitalization of $321.08 million, a P/E ratio of -2.85 and a beta of 1.53. The business has a 50-day moving average price of $5.36 and a two-hundred day moving average price of $6.56.
Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.60. The firm had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million. As a group, research analysts forecast that Monte Rosa Therapeutics will post -1.49 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Chandra P. Leo purchased 10,000 shares of the stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $5.84 per share, for a total transaction of $58,400.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $58,400. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.50% of the company's stock.
Hedge Funds Weigh In On Monte Rosa Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in shares of Monte Rosa Therapeutics by 192.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company's stock valued at $38,000 after purchasing an additional 3,584 shares during the period. GAMMA Investing LLC lifted its holdings in Monte Rosa Therapeutics by 10,665.5% in the 4th quarter. GAMMA Investing LLC now owns 5,921 shares of the company's stock valued at $41,000 after acquiring an additional 5,866 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Monte Rosa Therapeutics in the 4th quarter worth approximately $43,000. Virtus ETF Advisers LLC bought a new stake in shares of Monte Rosa Therapeutics in the 4th quarter worth approximately $63,000. Finally, Focus Partners Wealth acquired a new stake in Monte Rosa Therapeutics during the fourth quarter valued at approximately $77,000. Institutional investors own 79.96% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently commented on GLUE. Wells Fargo & Company cut their target price on Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. Lifesci Capital started coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $19.00 price objective for the company. Finally, Wedbush restated an "outperform" rating and set a $17.00 target price (up from $15.00) on shares of Monte Rosa Therapeutics in a research report on Thursday, March 20th.
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About Monte Rosa Therapeutics
(
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Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.
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